In a moment of extravagance I bought a "USB 2.0 video and audio grabber" from Jaycar. It runs software called Blaze HDAV player. I bought it to transcribe some old family VHS tapes to DVD. It connects to the VCR via composite video (or s-video) and you can view the TV signal or the VHS tape on the PC, and also capture it for later editing/saving. Sound great. The only problem is that it doesn't work. I get audio but no video. I know that as a general principle I have it connected correctly because if I connect it to my DVR it all works OK. It is certainly advertised as working with VHS.
I've got a query in with Digitech the manufacturer, but in the meantime I wondered if anyone here has experience of these things and can maybe offer some suggestions.